We are delighted to announce the release of the 2017 versions of our software for accountants. You can get started straight away by referring to the links in the article below:
Download the Software
If you already have Keytime Accountants' Suite download the update from the link below. If you are looking for a full installation of the Keytime Accountants' Suite, please see our Getting Started article here
Running the Update
Ensure that you have taken a recent backup of your Keytime data prior to running the update. Instructions on how to back up can be found at http://support.keytime.co.uk/forums/97419/entries/90415-backing-up-your-keytime-data
- Close all Keytime software
- Download the update choosing Run (or Save if you wish to store the file in the network location to update other computers in your office)
- Run the update and follow the on-screen prompts. Click Finish when prompted to close the installer.
- Restart the PC if prompted.
- Run the update on every PC accessing Keytime software (access the update from the network location in step 3 above).
- To check the version number, open any Keytime module and click the Help menu, select About.
What's New in Keytime Accountants' Suite Spring 2017 Release
The Spring 2017 release of our Keytime Accountants’ Suite is the first of many that provides focus on digital enablement and alignment to HMRC’s Making Tax Digital initiative. With the first mandate looming in April 2018, we have included a number of functional enhancements that enable users to keep ahead of the latest legislative changes, whilst delivering a number of productivity and efficiency gains across the Suite.
Keytime Personal Tax
Includes pre-population of client data made available via the Digital Tax Account as it is enabled by HMRC, so you clearly see and opt to utilise the information already held by HMRC when completing the client's return.
KNOWN HMRC ISSUE WITHIN 2016/17 INDIVIDUALS SELF-ASSESSMENT CALCULATION
Following detailed reviews and communications it has been confirmed that in four specific scenarios HMRC have made errors within the 2016/17 tax calculation for individuals. For those affected, it is currently possible to file a 2016/17 return online with the incorrect amount of tax calculated and it be accepted by HMRC. We are working closely with HMRC on an update to the tax calculation and expect this in our next available release. Full details of the issue, the affected scenarios and assistance in calculating the correct amount of tax, can be found by clicking here
Included in this Spring release:
- Automatic information pre-population for Individuals
- Records - Business name and PAYE Ref
- Other income – jobseekers allowance, incapacity benefit etc.
- Tax refunded or set off by tax office
- Marriage allowance
- Class 2 NIC
Keytime Corporation Tax
Changes have been made to allow for loss reforms announced by the government:
- Losses arising from 1 April 2017 can be carried forward and utilised against the taxable profits of different activities, whereas this was not possible for losses arising pre 1st April 2017
- There is limit set on the amount of losses that can be carried forward in line with the 50% restriction on losses brought forward over £5m
Keytime Accounts Production
Our Spring release concentrates on compliance with updates for charities and LLPs:
- Charities have been updated to SORP 2015 (for FRS 102)
- LLPs have been updated for FRS 102
- LLPs can now be filed on-line at Companies House (FRS 102 only)
Keytime Practice Manager
Our Spring release adds a number of additional features and enhancements:
- Enhanced integration with the modules, detects and links a new tax record with existing record in Practice Manager based on known facts
- Subtle changes have been made to the user interface; reports has moved from a button on the main tool bar to a tab on the main screen making the main screen look less cluttered and giving a bigger ‘viewing area’ for reports being previewed on screen
- In client records the Communications, Documents, Minutes and Dividends tabs have been moved to a new Documents tab giving a cleaner, less cluttered look
- Outlook integration now saves email attachments
Keytime Company Secretarial
Our Spring release includes:
- A new Documents button has been added to client records which gives the ability to display filing history from Companies House. You can also download copies of filed documents and save them on the client record
- In response to feedback received from Companies House, we’ve made a number of changes that should greatly improve our CS01 submission success rates
- Multiple Approval
- Introducing multiple approval for document collaboration with clients via IRIS OpenSpace